SBIR stands for Small Business Innovation Research. This is a government funding program coordinated by the Small Business Administration. This program helps small businesses to conduct research and development. The funding can be in the form of a contract, or a grant.

In order for a small business to be elegible for SBIR grants and benefits, it needs the following requirements:

• the business must be American-owned,
• is a for-profit organization,
• less than 500 employees.

Several federal agencies participate annually in this program. In addition, they designate R&D topics and accept proposals. Each federal entity funds research that meet the objectives of that Agency. This helps stimulate innovation; use small businesses to meet their needs, encourage participation from small businesses. Also, increase competition and economic growth.

Small businesses have the task to match, or align their interests with the specific needs of a Federal Agency, in order to secure the neccessary funding to conduct research and development.

Once a small business applies and wins a SBIR award, they can receive the funding, retain the rights to their intellectual property and obtain additional funding in order to continue researching and developing.

At Redmon, we have vast experience in supporting companies as they submit their grants. We do this by talking through each project and providing feedback along the way. From there, we delve into writing letters of support, estimates and agreements for their grant submissions. Stay tuned for our upcoming article on How Redmon Group Helps Companies Develop SBIR Programs.